Sunday, July 14, 2024
HomeNewsMagna invests $120mn to open new innovation centre in Bengaluru

Magna invests $120mn to open new innovation centre in Bengaluru

Magna International, a major supplier of auto parts, is investing more than USD 120 million to establish and run a new engineering centre in Bengaluru, India, to promote e-mobility. The Brigade Tech Garden is home to the new centre, Magna Innovation Campus Bengaluru, which will act as a vital hub for Magna in developing software-defined vehicles, electronics, and electrified vehicles powertrains.

By the end of 2023, the company plans to hire 1,000 engineers and technical specialists, with room to add up to 250 more as needed, according to a press statement from the company.

According to the company, the 240,000 sq ft facility will employ engineers and technical experts who will work on software and system development, simulation, testing, vehicle integration, and digital, data, and cloud solutions for electric vehicle programs. The facility is anticipated to open in the first quarter of 2023.

“Vehicles and their systems are becoming more electrified and software-defined, which changes the architecture and how we need to develop them. With this new engineering centre, we can further strengthen our vehicle systems development and IP creation, especially in the areas of e-mobility,” Anton Mayer, Executive Vice President, and Chief Technology Officer, Magna International, said.

The release said a ground-breaking ceremony is scheduled for October 17 at the Innovation Center with Magna executives.

Magna has 12 manufacturing divisions and three product development centres in India.

Subscribe To Newsletter


BRL Editor
BRL Editor
Business Review Live covers finance, technology, travel, lifestyle, and everything in between through exclusive interviews and analysis, market statistics, digital video, and an expanded array of content formats.